Tuesday, September 4, 2012

How to make the most of your money

Part 4: 

To yield the strongest return on your investment for marketing dollars start by knowing your objectives; sounds simple right? 
By focusing on your objectives and outcomes it becomes easier to perform an analysis of your business. Once you are focused on achievable goals with a clear business plan your message, your target audience and the vehicle you plan to use to facilitate advertising will fall into place.

How do you define your objectives?

 Start by quantifying and qualifying your best contact. What is the long term value of that client? What are your expectations for growth? How will you introduce your brand to this “perfect” prospect? For example if you are a local baker you are probably seeking a long term relationship with the local families and businesses in your area for products. By getting to know local families you hope to be their go to source for family celebrations. By reaching out to elementary aged families your connectiong will help to secure the birthday, holidays, wedding, graduation, anniversary and baby shower goodies in the future.

 After you have defined your target audiences consider how you will create a call to action when distributing to that target audience. How will you determine the best medium for developing that message? The partnership with your promotional partner will help to steer your planning in the right direction.
How and when will you measure the results?

If you are seeking a client that will provide you 10,000 or 100,000 over the life of their account what is the appropriate amount to spend to secure those types of clients? Define that budget.

Congratulations, your planned worked and growth is coming, what now? Have you adequately planned for the additional volume to business operations? Make sure to plan for the unexpected and the expected!



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